The Enforcement Directorate (ED) has moved the Telangana High Court seeking a speedy, day-to-day trial, and the personal appearance of all accused in the money laundering cases against YSR Congress Party (YSRCP) chief and former Andhra Pradesh Chief Minister YS Jagan Mohan Reddy and 73 others.
The ED is investigating allegations of massive corporate favours and quid pro quo investments under the Andhra Pradesh government into companies run by Jagan and his family, when his father YS Rajasekhara Reddy was CM between 2004 and 2009.
The Central Bureau of Investigation (CBI) had arrested Jagan in the quid pro quo case on May 27, 2012. He was granted bail after 16 months in jail.
In a press note released on October 10, the ED said it had filed a writ petition before the High Court on September 29 seeking a speedy trial. It said that investigation had revealed that huge investments were made by companies and individuals such as Aurobindo Pharma, Hetero Drugs, Indu Projects, Indu Techzone, Lepakshi Knowledge Hub, VANPIC Projects, VANPIC Ports, Nimmagadda Prasad, Ramky Pharma City, The India Cements, etc. through subscription of shares at exorbitant rates into companies related to Jagan and his family such as Bharati Cement Corporation, Jagati Publications, Janani Infrastructure and others.
The ED’s statement said that it had filed nine prosecution complaints so far against Jagan and other accused before the Special Court for CBI cases, Nampally, Hyderabad between 2016 and 2021. The hearing of discharge petitions is pending in all nine complaints, delaying progress, it said.
ED said that though years have passed since the court took cognisance of the complaints, there has been no significant progress, with discharge petitions undecided due to transfer of presiding officers or other reasons.
Proceedings have remained pending for nearly 10 years, and “the chronology of the proceedings itself demonstrates the absence of reasonable expedition in the prosecution of the matter,” the statement said.